Amazon.com’s (AMZN) Buy Rating Reaffirmed at MKM Partners

Amazon.com, Inc. (NASDAQ:AMZN)‘s stock had its “buy” rating reiterated by equities research analysts at MKM Partners in a note issued to investors on Thursday. They currently have a $1,275.00 target price on the e-commerce giant’s stock. MKM Partners’ target price indicates a potential upside of 30.17% from the stock’s previous close.

Several other research firms have also issued reports on AMZN. DA Davidson initiated coverage on Amazon.com in a report on Wednesday. They issued a “buy” rating and a $1,300.00 target price for the company. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $1,150.00 target price on shares of Amazon.com in a report on Friday, September 1st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $1,250.00 target price on shares of Amazon.com in a report on Thursday, August 31st. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,100.00 target price on shares of Amazon.com in a report on Thursday, August 31st. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Amazon.com in a report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, forty-six have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,092.58.

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Shares of Amazon.com (NASDAQ:AMZN) traded up 1.21% on Thursday, hitting $979.47. The stock had a trading volume of 2,566,794 shares. The company has a 50-day moving average of $986.32 and a 200 day moving average of $944.11. The company has a market capitalization of $470.52 billion, a price-to-earnings ratio of 249.10 and a beta of 1.47. Amazon.com has a 52 week low of $710.10 and a 52 week high of $1,083.31.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, July 27th. The e-commerce giant reported $0.40 EPS for the quarter, missing the consensus estimate of $1.40 by $1.00. The company had revenue of $37.96 billion during the quarter, compared to analysts’ expectations of $37.18 billion. Amazon.com had a return on equity of 9.38% and a net margin of 1.28%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $1.78 earnings per share. On average, equities research analysts predict that Amazon.com will post $3.95 EPS for the current year.

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In other Amazon.com news, CEO Jeffrey A. Wilke sold 2,800 shares of Amazon.com stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $955.20, for a total value of $2,674,560.00. Following the completion of the sale, the chief executive officer now owns 10,000 shares of the company’s stock, valued at approximately $9,552,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian T. Olsavsky sold 2,334 shares of Amazon.com stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $988.90, for a total transaction of $2,308,092.60. Following the completion of the sale, the insider now directly owns 1,748 shares of the company’s stock, valued at approximately $1,728,597.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,793 shares of company stock valued at $9,574,377. 17.70% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. Leavell Investment Management Inc. grew its position in shares of Amazon.com by 0.3% during the 2nd quarter. Leavell Investment Management Inc. now owns 394 shares of the e-commerce giant’s stock valued at $381,000 after acquiring an additional 1 shares during the period. SeaBridge Investment Advisors LLC grew its position in shares of Amazon.com by 0.4% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 272 shares of the e-commerce giant’s stock valued at $263,000 after acquiring an additional 1 shares during the period. Stillwater Capital Advisors LLC grew its position in shares of Amazon.com by 0.4% during the 1st quarter. Stillwater Capital Advisors LLC now owns 526 shares of the e-commerce giant’s stock valued at $466,000 after acquiring an additional 2 shares during the period. Beese Fulmer Investment Management Inc. grew its position in shares of Amazon.com by 0.7% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 289 shares of the e-commerce giant’s stock valued at $256,000 after acquiring an additional 2 shares during the period. Finally, Round Table Services LLC grew its position in shares of Amazon.com by 0.3% during the 1st quarter. Round Table Services LLC now owns 701 shares of the e-commerce giant’s stock valued at $621,000 after acquiring an additional 2 shares during the period. 60.80% of the stock is owned by hedge funds and other institutional investors.

About Amazon.com

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.